I’d be interested in hearing what the mkt is like now, but when I had a condo in Sun City it cash flowed as a rental, but didn’t appreciate because there were always lots of places for sale (residents are always moving on, one way or the other). The original Sun City places were well built w/nice amenities. I looked @ Sun City West, which was new @ the time, but it was much more expensive. One of the nice things about those communities is that the owners usually have lots of equity, & are open to OWC deals. It’s a very nice place to live, & if it had an ocean I’d probably be there now. The recreation & cultural facilities are marvelous (I wanted to join the roller skating club). Del Webb was a genius. The small details of the buildings & grounds are really thoughtful, but the real attraction is that there are all levels of living facilites w/in the same community so that if you are newly retired & fully independent you can partake fully, yet if you need some or lots of care you can remain in the area & not have to leave. Caveat: if looking for rental properties do NOT believe what the agents tell you that you can charge. Let us know what your research finds–
I’m in the Phoenix area and want to buy patio home(s)
in gated, senior communities. I believe the market
for retirees will continue to boom in Phoenix area.
Anyone have any thoughts on whether older communities
like Leisure World or Sun City West will be
good investments or should I limit my search to
newer construction.
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One other thing to look into is if there is an age restriction on owning property in the community. I looked at a house in Green Valley, Arizona a number of years ago and the owner(s) had to be 55+.